ID :
289564
Sun, 06/16/2013 - 12:22
Auther :

Thai banks keep interest rates unchanged

BANGKOK, June 16 (TNA) - Governor of the Bank of Thailand Prasarn Trairatvorakul said commercial banks in Thailand had kept their interest rates unchanged due to less confidence in the world money market, which appeared volatile at the time being. Prasarn gave the announcement after the Monetary Policy Committee cut its policy rate on May 29 by 0.25 percentage points from 2.75 to 2.50 percent, the first reduction in seven months since October last year. Foreign capital outflows were seen last week while banks are engaging in high competition on deposits from the public to cater for their lending. Uncertainty in liquidity had remained after developing countries such as Brazil had increased their interest rates to maintain liquidity in their countries. Meanwhile, the Thai baht strengthened against the US dollar again last Friday, hovering at 30.55 baht. Analysts said they believe the baht appreciation could continue due to lesser demand for the dollar in the Thai market. (TNA)

X